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GMD: Resolution of the annual shareholders’ meeting
General Forwarding & Agency Corporation (GEMADEPT) has informed of resolution of the annual shareholders’ meeting which was held on May 19th 2008. All participants were in the shareholder list on the record date April 22nd 2008. The meeting was unanimous the following issues:
1. Report of the BOD:
Report on financial activities 2008 and orientation for the next period:
Develop core business:
Invest, build port system, logistics and marine service network in key economic areas.
Expand shipping, set up shipping company
Focus on key transports: airlines, logistics…
Diversify business:
+Construct modern buildings in local and foreign trading center
+Construct industrial zones in key economic area
+Financial activities
2. Business result and profit distribution 2007:
2.1. Business result 2007:
+ Revenue of sales and services: VND1,171,917,283,023
+ Total expenses: VND907,311,463,214
+ Profit before tax: VND264,605,819,809
+ Profit after tax: VND216,741,887,402
+ Minority interest: VND14,057,267,092
+ Profit after tax of parent company: VND202,684,620,310
2.2 Profit distribution 2007:
+Dividend payment 2007: VND1,500/share.
+Total payment: VND71,250,000,000
The company has done payment from March 20th 2008 under the shareholder list on the record date March 6th 2008.
+Fund of the BOD: 3% profit after tax
+Fund of bonus and welfare: 5% profit after tax
+Fund of reserving chartered capital: 5% profit after tax
+Fund of financial reservation: 5% profit after tax
3 – Report of the Supervisory Board
Approving the report of the Supervisory Board on business situation 2007.
4. Business plan 2008
4.1. Business plan 2008:
+The company will focus on deploying key business:
+Start building the port in Cai Mep at the end of 2008
+Put the following ports into operation: GMD-Dung Quat international port, Le Chan port in Q4/08.
+Increase output, invest more equipments, improve management structure; enhance efficiency of ICD Phuoc Long port.
+Expand activities of domestic and international container transport.
+Purchase 2 – 3 ships, build S1, S2 ships…
+Use Gemadept building effectively; implement joint venture procedures with partners to widen area of Le Loi zone in order to start working Le Loi building at end of 2009.
+Prepare for deploying the following projects: SAIGON CARGO SERVICE CORPORATION, GMD LCL frozen storage, Logistics GMD-Schenker center.
+Research to set up air transport logistics.
+Develop human resources.
+Deploy Oracle financial management software
4.2 Business criteria for 2008
+Revenue increase 10-20 % compared to 2007
+Profit increase 2-5 % compared to 2007
5. Plan of share issuance:
In the shareholders’ meeting on May 10th 2007, plan of issuing 24,500,000 shares was approved with implementation time of end of 2007 or Q1/08. However, due to plunge of the stock market, share issuance of the company has been delayed. The BOD is authorized to continue the issuance when the market becomes stable.
6. Listing registration for issued shares to employees:
At the end of 2006, the company issued 12,976,966 shares, in which 2,000,000 shares issued to employees. Most of employees had made bank loan to buy this number of shares and then, they had expected to be released binding conditions for listing, depository and trading. This was approved in the shareholders’ meeting on May 10th 2007.
7. The company regulations
Approving amendment of the company regulations.
8. Resutl of re-election of the BOD and Supervisory Board for the term of 2008-2012:
Members of the BOD:
+Mr Do Van Nhan
+Mr Chu Duc Khang
+Mr Do Van Minh
+Mr Pham Tien Tinh
+Ms Nguyen Minh Nguyet
+Mr Nguyen Quoc Khanh
+Mr To Hai
+Mr Pham Hong Hai
+Mr Vu Ninh
Members of the Supervisory Board:
+Mr Luu Tuong Giai
+Ms Bui Thi Thu Huong
+Ms Vu Thi Hoang Bac
+Mr Nguyen Viet Quang
+Mr Tran Duc Thuan
9. Selecting an auditing firm:
Authorizing the BOD to select an auditing firm for 2008
10. Change of the head office
New address of the head office: Gemadept Tower, 2Bis-4-6 Le Thanh Ton, Ben Nghe Ward, Dist.1, HCMC.
Phone : 84-8- 8 236 236
Fax : 84-8- 8 235 236
Email : info@gemadept.com.vn
Website : www.gemadept.com.vn.
HoSE
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